accounting multiple choice

Question 5 (1 point) When a business transaction is analyzed, at least two of the individual items on the balance sheet must change. only two of the balance sheet items must change. the accounting equation may no longer be in balance. both sides of the balance sheet must change. Question 6 (1 point) The balance of an account is calculated by subtracting the lower pin total from the higher. expresses the dollar value of an account. All are correct. periodically appears on a trial balance. Question 7 (1 point) A new piece of equipment was purchased for $798 on credit. This transaction should be recorded as a debit to Equipment and a credit to Accounts Payable. debit to Equipment and a credit to Bank. debit to Equipment and a credit to Accounts Receivable. debit to Bank and a credit to Equipment. Question 8 (1 point) A $250 payment was made on the bank loan, which should be recorded as a O debit to Bank Loan and a credit to Bank. debit to Accounts Receivable and a credit to Bank Loan. a Odebit to Bank and a credit to Bank Loan. debit to Accounts Receivable and a credit to Bank